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Archive for the ‘summary’ Category

I’ve received a number of emails asking how much is my portfolio hurting right now and I have to say, not as bad as it could’ve been. Why? Let’s look at my holdings:

Wal-Mart (WMT) - I have it because I think it could benefit from a “likely” U.S. Recession. WMT is up 3.03% so far and put what we call a ‘bullish engulfing’ pattern. Could continue upwards, keep your stop loss at 46.00 just in case it doesn’t.

Other US retailers also put a nice show, Target (TGT) was up 7.45% while American Eagle (AEO) was up 10.82% - does Wall Street think people will go for American Eagle Clothing? Hummm… not sure.

Laboratory Corp (LH) - This is a fundamentally strong company that I’ve written multiple times in the past. Look at how it recovered today.

TD Bank (TD.TO) - Although I don’t feel proud about breaking my rules on this trade I feel it could possibly go up for another bounce (I will exit then). TD indicated they have no exposure to the mortgage problems in the US. We shall see.

Royal Bank was up 6.25% while Bank of Montreal was up only 4.36% and Canadian Imperial Bank-CIBC (CM.TO) was up only 1.17%, can you tell which ones have more trouble ahead?

My Portfolio Summary

Here is what my current portfolio looks like - note that I no longer use dollar amounts for Gains/Losses (new year’s resolution) — it was causing too much controversy

Overall, not bad, down -1.5% on average, very little compared to the recent drop. Good luck to you folks.

Today I closed most of my Gold positions and will re-enter as soon as the market cools off for 1 or 2 days (IF). I moved the cash to positions in Cameco (CCJ:NYSE or CCO:TSX) and Ballard Power (BLDP:NYSE or BLD:TSX) and they’re are already showing some minor profit.

Here’s my current portfolio:

Ballard was up 7.7% and closed at the high of the day which is very bullish. Let’s see the follow up tomorrow. You can read my previous posts to find a more detailed analysis of the stock and my entry.

Cameco also closed above the 50dma. Looking good so far.

Now let’s see my bottom picking stocks, not really my style but thought these two can do well. Loblaws closed well for the day.

as for TD Bank, it closed just like I expected. I think it could drop some more before it recovers.

daily action on TD.

Given my profits on my recent trades I think I’ve started the year on the right foot. Now, it’s about executing with consistency and discipline. Good luck to you tomorrow.

This was not a good week for me (-5,472.71), compared to my $9,236 the week before, I pretty much wiped out 60% of my last week gains.

Reasons for such a bad week:

• Taking too much risk
• Not following my methodology
• Market went sour

Here are some of the action items for next week:

• Streamline my risk calculation spreadsheet
• Reduce my position sizes if necessary
• Finish my new trading plan - improve my daily and weekly process
• Start rating my trades

Today I was brave enough to close my position on 3M, it hurts. I still think that the stock will recover but I prefer to move the money to a stock that will help me recover "faster", that stock was LH (Laboratory Corporation).

On a positive note, I am comfortable with most of the stocks in my portfolio, they’re fundamentally very sound and well positioned to continue upwards (some of them are already there, like Tim Hortons - THI.TO).

Have a great weekend.

The Dow Jones dropped 360 pts today on renewed concerns on credit and US dollar. My little stupid dumb system just gave me a RED signal, meaning, get out of the market… what am I going to do about it?
 
Current Portfolio
My positions are back into the big red territory. Contrary to my system (don’t ask me why at this point) I have a few positions  on US stocks which I consider to be a good buy at this point, I am hoping to capitalize on a temporary bounce in the US dollar.
Closed Positions - please refer to this post